$BTC

Technical Analysis BTC USDT

After some good bounces from the four-hour support level of 106.8 thousand dollars, Bitcoin started the month by breaking this level. This was the lowest level of the four-hour range during the past week. From here, we need to monitor the reaction upon retesting.

If we see a bounce during the four hours, this could just be a divergence before returning to its highs at 108 thousand dollars. However, if we reject the level of 106.8 thousand dollars, we may witness a price range between 105 thousand and 104 thousand dollars soon.